Milei inaugurates the 138th Rural Exhibition in Palermo without confirmed announcement on export duties

Key facts

President Javier Milei will lead the opening ceremony of the 138th Rural Exhibition at the Palermo grounds of the Argentine Rural Society (SRA) this Sunday. He will be accompanied by SRA President Nicolás Pino. The ceremony will begin with the entrance of the General San Martín Horse Grenadier Regiment, followed by Milei’s arrival. After the national anthem, a commemorative video for the SRA’s 160th anniversary will be shown, then Pino and Milei will speak, and finally the traditional parade of champions and agricultural machinery will take place. Notably, the parade was originally scheduled before the speeches but the order was changed. The main event will start at 11 a.m. and last approximately two hours, ending around 1:30 p.m. The venue gates will open at 9 a.m. The SRA celebrates its 160th anniversary, hence the commemorative video.

Context and scope

The presidential speech comes amid strong expectations from the agricultural sector for a possible reduction in export duties, particularly on steer beef, which currently pays 5%, as do soybeans, corn, sunflower, and sorghum. Economy Minister Luis Caputo visited the exhibition this week and stated that there is no specific announcement, recalling that official communications were made two months ago – referring to the reduction of duties on wheat and barley – and that only if the economic surplus allows it can further reductions be made. Quoted verbatim, Caputo said: “No, there is no specific announcement. The announcements, as I say, were made already two months ago and, to the extent that the economic surplus provides more room, hopefully we can then continue lowering.” Nevertheless, rumors grew about a possible gradual reduction of export duties on steer beef. The change of the event day – from the traditional Saturday to Sunday – was due to an official request, similar to what happened two years ago due to a trip by Milei to Brazil to support presidential candidate Flavio Bolsonaro.

What is confirmed and what remains open

It is confirmed that Milei will attend and deliver a speech, that the event will proceed according to schedule, and that the gates will open at 9 a.m. High sources from the Casa Rosada told LA NACION that the presidential message will be “very aligned with the countryside” and will include gestures toward Nicolás Pino, who is seeking reelection as head of the SRA against his current vice president, Marcos Pereda. It is also a fact that the content of the speech remains strictly confidential. What remains open is whether any concrete measure on export duties will actually be announced, given that Minister Caputo previously denied it, although rumors continued. After the event, reactions from the sector will be known and whether or not there were announcements. Additionally, it was confirmed that the day change was due to an official request, as happened two years ago due to a presidential trip. The internal dispute in the SRA between Pino and Pereda adds an additional political component to the ceremony.

Analysis by El Sereno

Milei’s presence at the Rural Exhibition occurs in a context of expectations for measures on export duties, especially on beef. However, Minister Caputo cooled down rumors by stating that there are no specific announcements and that decisions were already communicated two months ago. The change of the event day responded to an official request, showing the government’s influence on the exhibition’s agenda. The content of the presidential speech remains confidential, but official sources indicate it will be favorable to the countryside and include nods to Pino, who faces an internal dispute in the SRA. The absence of concrete announcements suggests that the government prioritizes fiscal prudence, although it does not rule out future reductions if the surplus allows. The ceremony includes traditional elements such as the parade – which was reordered to after the speeches – and a video for the SRA’s 160th anniversary, in a year when the entity will renew its authorities. The fact that the president agreed to the day change also denotes coordination with rural leaders. In short, Milei’s move seems to prioritize communicative restraint and fiscal consistency, avoiding fueling expectations that cannot be immediately met, while aligning with the countryside leadership in an election year for the SRA.